Question 3. (30 marks) For the second quarter of the following year Ronaldo Company has projected sales and production in units as follows: April May June Sales 38,000 41,000 45,000 Production 50,000 48,000 46,000 Cash-related production costs are budgeted at $10 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the next month. $80,000 per month will account for Selling and administrative expenses. On January 31, the accounts payable balance totals $155,000, which will be paid in February All units are sold on account for $25 each. Cash collections from sales are budgeted at 60% in the month of sale, 20% in the month following the month of sale, and the remaining 15% in the second month following the month of sale. On April 1 accounts receivable totaled $0. Submission Instructions: 1. Prepare a schedule for each month showing budgeted cash disbursements for Ronaldo Company 2. Prepare a schedule for each month showing budgeted cash receipts for Ronaldo Company. h (US)